Medical device manufacturer Croom Medical has acquired Croom, Co. It has unveiled plans to create 80 jobs following the opening of its new manufacturing facility in Limerick.
The company, which has invested more than €12m in the new facility, also revealed plans to develop another manufacturing facility in the Limerick region, which is expected to open in 2023.
As part of its ongoing expansion, Krum Medical will recruit an additional 80 team members during the year. Last July, the company employed 45 people, but it expects that number to increase to 170 by the end of the year.
Crum Medical, which was established in 1984, manufactures orthopedic medical implants for multinational companies based in North America and other global markets.
In 2020, equity fund BGF announced investment in a minority stake in the company. The UK private equity fund, backed by the Ireland Strategic Investment Fund (ISIF), has now backed 13 Irish companies in a series of transactions over five years worth €80m.
Chief Executive Patrick Byrnes said the company has experienced rapid growth in recent years due to significant investments in research and development, as well as technologies such as 3D printing and automation.